China shares edge higher in cautious trade as tariff comment deadline expires

(Corrects attribution to commerce, not foreign, ministry in fourth summary points)

* Shanghai stocks higher, blue-chip CSI300 index up

* Gains in Shanghai stocks led by Ningxia Xinri Hengli Steel Wire Rope Co

* China's A-shares at 19.65 pct premium over H-shares

SHANGHAI, Sept 7 (Reuters) - Stocks in China ended higher on Friday, but the Shanghai Composite index and blue-chip shares closed lower for the week, as a deadline for public comments on fresh U.S. trade tariffs expired.

** At the close, the Shanghai Composite index was up
10.71 points or 0.4 percent at 2,691.59. The index is down 0.8
percent for the week. The blue-chip CSI300 index ended
0.45 percent higher, but was down 1.7 percent for the week.
** The CSI300 financial sector sub-index rose 0.8
percent and the real estate index ended up 0.94 percent.
** The Trump administration is ready to move ahead with a next
round of tariffs on $200 billion worth of Chinese imports after
a public comment period ended at midnight in Washington on
Thursday (0400 GMT Friday), but the timing is uncertain, people
familiar with the administration's plans told Reuters.
** China has warned of retaliation if the United States
introduces new tariffs, a commerce ministry spokesman said on
Thursday.
** Healthcare shares rose after two days of losses, with the
sub-index of the CSI300 tracking healthcare firms,
rising as much as 2.7 percent in the morning session before
ending the day 1.9 percent higher.
** The gains follow heavy selling of healthcare shares in recent
months amid a vaccine scandal that has undermined confidence in
healthcare and consumer firms. The healthcare sub-index is down
more than 23 percent from late-May highs. Consumer firms
ended 1 percent higher on Friday.
** Airlines took off as investors hunted for bargains after
losses in recent months due to a weak yuan and rise in oil
prices. Juneyao Airlines Co Ltd gained 7.6 percent,
China Eastern Airlines finished 2.8 percent higher
and China Southern Airlines ended up 0.8 percent.
** The smaller Shenzhen index ended 0.11 percent firmer
while the start-up board, ChiNext Composite index,
was higher by 0.17 percent.
** Around the region, MSCI's Asia ex-Japan stock index
was weaker by 0.26 percent, while Japan's Nikkei
index closed down 0.8 percent.
** At 07:14 GMT, the yuan was quoted at 6.8386 per
U.S. dollar, 0.17 percent weaker than the previous close of
6.8267.
** The largest percentage gainers in the main Shanghai Composite
index were Ningxia Xinri Hengli Steel Wire Rope Co Ltd
, up 10.07 percent, followed by Gansu Gangtai Holding
Group Co Ltd, up 10.03 percent, and Zhejiang
Tiancheng Controls Co Ltd, up 10.03 percent.
** The largest percentage losers in the Shanghai index were
Nanjing Central Emporium Group Stocks Co Ltd, down
9.97 percent, followed by Dawning Information Industry Co Ltd
, down 8.25 percent and China National Software &
Service Co Ltd, down 6.71 percent.
** So far this year, the Shanghai stock index is down 18.3
percent, the CSI300 has fallen 18.7 percent while China's
H-share index listed in Hong Kong is down 9.7 percent. Shanghai
stocks have declined 0.84 percent this month.
** About 10.75 billion shares were traded on the Shanghai
exchange, roughly 88.3 percent of the market's 30-day moving
average of 12.18 billion shares a day. The volume in the
previous trading session was 9.90 billion.
** As of 07:16 GMT, China's A-shares were trading at a
premium of 19.65 percent over the Hong Kong-listed H-shares.
** The Shanghai stock index is below its 50-day moving average
and below its 200-day moving average.
** The price-to-earnings ratio of the Shanghai index was 11.32
as of the last full trading day, while the dividend yield was
2.7 percent.
** So far this week, the market capitalisation of the Shanghai
stock index has fallen by 1.24 percent to 28.66 trillion yuan.
(Reporting by Andrew Galbraith; Editing by Vyas Mohan)


First Published: 2018-09-07 09:40:42
Updated 2018-09-07 11:00:11


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